OfflineA pretty awesome thing that I have been doing with real estate agents that I am working with is using their access to the MLS to get me active cash buyers who are buying properties with CASH. Believe it or not, Real estate agents can actually do a search on the MLS to find and pinpoint cash buyers and can legally give you that list to work with to build relationships with buyers. Here is what I say to agents and how I say it to them to get this list to help me out. I like to do this face to face and not over the phone or email because I get better results actually talking to them. (I see this in many aspects of my investing)
First thing I will say to them is this:
"So you know in the MLS where you have to enter in weather or not the property was purchased using either "conventional funds", "FHA" funds, or "CASH" for the purchase?" (They always respond yes by the way because they have to enter this when a property sells)
Next thing I will say is "And of course you know that the MLS is one big giant database right?" (They will answer yes to this as well)
Next thing I will say is: "So as we know with any database, we know that if we have to enter in a piece of data, we can search the database for this exact same data?" (They will respond to this with a big yes as well)
Next thing I will say is: "And we know that just about everything in the MLS comes from public records" (They nod and understand this as well)
Next thing I will say is: "I need you to do something for me. I need you to run a search for the last 3 months for all properties that closed using "CASH" as the form of payment for the property." (the wheels in their heads will be spinning by now and lights will be going off as well)
They will be able to provide you with this list that will show you the address of the property sold and we can go to the county courthouse either in person or online and search tax records for the person/place/entity where the TAX BILL is being sent to. This is public record and we can get the contact information of the owner of the property.
Happy Investing!
Great suggestion. The only problem here is that nervous or starving agents may see this as a way to work on transactions outside of his or her sphere. If you make it clear that these buyers maybe interested in buying again and that you are willing to farm the list and do the work for the agent and then structure a transaction that involves all parties including them as the agent. This way they see a side that can involve a commission for them.
Yes we have done that. It worked great:)
What we learned is that for some counties in our areas, it takes time for the recording process. This means the public records were not posted yet.
A great solution was to ask for them to give us 3 months, but exclude the current and prior month. So today I would ask them for May June and July.
Thanks for sharing a great tool
Julie Wakefield
John and Julie Wakefield
JCW Properties, LLC
Great suggestion dude!
Thanks for sharing, I have read it I think it is very helpful for all of us.
Property Managers Gold Coast
my agent today! Thank you for the breakdown! GReat tip!
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This is what I love about the Forum section here on DG.com It gives amazing people the chance to get in touch with each other, and share best practices with each other. To help each other learn from mistakes. To be able to learn together from mistakes or lessons we learn. Please keep up the great feedback and use this to help each other grow and to become Awesome!
Like Dean has been talking about lately. Get rid of things in your life that aren't awesome.
Happy Investing!
Matt W
This method is where I started and actually got the list from my Title rep so she was thrilled to supply the list without the angst that some RE agents get.
Great advice!
With your success in mind,
Jim McKinney
"With integrity, nothing else matters.
Without integrity, nothing else matters!"
Comment from Jim M:
"This method is where I started and actually got the list from my Title rep so she was thrilled to supply the list without the angst that some RE agents get.
Great advice!"
I love this strategy. Getting a title company to work with you is awesome. Finding the one who will work from you is well worth the effort it sometimes can take to do.
Keep up the hard work and thanks for sharing your knowledge with us.
Happy Investing.
Matt.
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